Financing for Development
Achieving global justice, mitigating climate change effects, building peaceful and safe societies, and other global development objectives requires a continuous engagement as well as funding. While leaders of the world agreed on ambitious and universal sustainable development goals in 2015, finding the finances to reach these goals remains a challenge.
Financing for development covers many different public and private, domestic and international financial flows, among which domestic fiscal revenues, public development aid, remittances, foreign direct investment and external debt. On one hand, the domestic resources, such as taxation, are by far the largest source of revenue for financing economic and social development although they are not usually used for social-justice. On the other hand, public sources of financing (including aid, and government borrowing) tend to be more predictable and stable and they also have the potential to be more used for social-justice by targeting the poorest and most vulnerable people.
In this debate, CONCORD actively campaigns to hold EU leaders accountable for their commitments to dedicate 0,7% of their Gross National Income to development assistance and to use this aid in genuine, poverty-focused and effective ways. We also advocate for the mobilization of other financing sources, including through promoting tax justice, combating illicit financial flows including tax dodging by transnational companies, improving the international financial cooperation and the global economic governance, and ensuring that private sector financial contributions focus on sustainability and human rights criteria.
Underpinning all this, CONCORD promotes strong, democratic ownership by the people in developing countries over their own development and financing policies.
CONCORD focuses on an evidence-based policy, including the writing of the annual AidWatch report. We actively engage in dialogues with leaders in EU institutions, member states and international organisations, also as part of broader coalitions of the civil society, to push for necessary policy changes and a more favourable policy environment.
The change we want to see:
- People’s ownership in the Global South on use of finances: We want the EU and Member States to increasingly respect the entitlement of citizens of the Global South to define their and their country’s sustainable development plans and the resources to finance them.
- Tax Justice: We support and amplify initiatives to promote tax justice.
- Quantity and Quality of the Official Development Assistance budget (ODA): We want the ODA to be genuine and innovative, and remain at the core of political debates to hold the EU and Member States accountable.
- Gender Equality: We want the programming and review of the EU financial instruments to lead to a bigger commitment towards gender equality.
- Framing the private sector’s contribution: We want the EU policies and practice to put the private sector’s contributions to development finance increasingly in the right(s) framework.
For the first time since 2012, the EU’s aid spending decreased in 2017. This means, at the current rate of growth, the EU would need another 40 years to meet the 0.7% ODA/GNI target, reveals CONCORD AidWatch Report 2018.read more
Is the EU Gender Action Plan II actually transforming the lives of women and girls in the world? Has the lives of women and girls improved thanks to EU actions? With its report “Transforming lives: EU Gender Action Plan II – From Implementation to Impact”, CONCORD aims to demonstrate how the EU Gender Action Plan 2016-2020 is being implemented. Based on in-country research in Rwanda, Vietnam and Ghana, CONCORD report provides concrete recommendations on how to bring about a more impactful implementation of the Action Plan.read more
On 19 June 2018, the Committees on Budget, Budgetary Control, Foreign Affairs and Development jointly organised a joint hearing entitled Assessing the flow of external EU migration funding. Fanni Bihari, from ACT Alliance EU, represented our confederation in this public debate aiming at assessing the flow of current expenditure on the migration-related projets and the EU Trusts Funds. Find here the main take-aways of her presentation, a useful summary of CONCORD’s position on that matter.read more
Today, the European Commission has released the legal framework for the external funding instruments of the future EU budget (MFF 2021-2027). CONCORD, the European Confederation of Development NGOs, raises concerns that unproven investment schemes and migration control will overshadow the EU’s commitments to promote human rights, sustainable development and the fight against poverty.read more